Northwestern Mutual Wealth Management Co. lifted its holdings in Portland General Electric (NYSE:POR – Get Rating) by 26.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,373 shares of the utilities provider’s stock after buying an additional 285 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Portland General Electric were worth $76,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in POR. New York State Teachers Retirement System grew its holdings in Portland General Electric by 2.6% during the 1st quarter. New York State Teachers Retirement System now owns 7,900 shares of the utilities provider’s stock valued at $436,000 after purchasing an additional 200 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in Portland General Electric by 2.1% during the 4th quarter. Krane Funds Advisors LLC now owns 14,183 shares of the utilities provider’s stock valued at $751,000 after purchasing an additional 291 shares during the last quarter. Keudell Morrison Wealth Management grew its holdings in Portland General Electric by 2.0% during the 1st quarter. Keudell Morrison Wealth Management now owns 16,033 shares of the utilities provider’s stock valued at $884,000 after purchasing an additional 322 shares during the last quarter. Lazard Asset Management LLC grew its stake in Portland General Electric by 0.5% in the 4th quarter. Lazard Asset Management LLC now owns 68,513 shares of the utilities provider’s stock worth $3,625,000 after acquiring an additional 373 shares in the last quarter. Finally, Park Avenue Securities LLC grew its stake in Portland General Electric by 5.3% in the 1st quarter. Park Avenue Securities LLC now owns 7,813 shares of the utilities provider’s stock worth $431,000 after acquiring an additional 395 shares in the last quarter. 91.92% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
POR has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Portland General Electric from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $52.00 in a research note on Thursday, June 2nd. Mizuho upped their target price on shares of Portland General Electric from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com upgraded shares of Portland General Electric from a “hold” rating to a “buy” rating in a research note on Monday, August 1st. Barclays dropped their target price on shares of Portland General Electric from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, Bank of America cut shares of Portland General Electric from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Portland General Electric presently has an average rating of “Hold” and a consensus price target of $52.83.
Insider Activity at Portland General Electric
In other Portland General Electric news, VP John Teeruk Kochavatr sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $53.72, for a total value of $107,440.00. Following the completion of the transaction, the vice president now owns 14,112 shares of the company’s stock, valued at $758,096.64. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.
Portland General Electric Trading Down 2.0 %
NYSE:POR opened at $52.57 on Friday. Portland General Electric has a 52 week low of $45.02 and a 52 week high of $57.03. The firm has a 50 day moving average of $50.83 and a 200 day moving average of $51.03. The company has a quick ratio of 0.77, a current ratio of 0.87 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 5.06 and a beta of 0.51.
Portland General Electric (NYSE:POR – Get Rating) last posted its earnings results on Thursday, July 28th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.32. Portland General Electric had a net margin of 9.73% and a return on equity of 8.87%. The company had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $531.67 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Portland General Electric’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Portland General Electric will post 2.82 earnings per share for the current fiscal year.
Portland General Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, September 26th will be given a dividend of $0.4525 per share. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $1.81 dividend on an annualized basis and a yield of 3.44%. Portland General Electric’s payout ratio is 67.54%.
About Portland General Electric
Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2021, the company owned an electric transmission system consisting of 1,274 circuit miles, including 287 circuit miles of 500 kilovolt line, 415 circuit miles of 230 kilovolt line, and 572 miles of 115 kilovolt line.
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